Yes hes rich and he wanted to minimize having to carry around an ipad with him so he bought enough for his needs and pretty much all are kept stationary.

Sent from my iPad using iPF

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One can never have too many iPads. 

That said, it sounds like he doesn't want to carry it around from place to place in his house, like the rest of us poor slobs do. If I were him, I'd just have one for my general use, one for my kid and then one attached to the back of my butler, servant, aide or whatever and have that person tag along wherever I go. Then I can say "Hey, shine my shoes. I wanna read the New York Times."

Michael "Spam, spam, bacon, eggs and spam. Hold the bacon and eggs." Sent from my iPad 2 using iPF

I have two iPads, but I tend to use one at a time and carry it around, because I want to keep reading what I was reading, watching what I was watching, etc., without restarting and such. It'd actually be a pain for me to have to leave one iPad and start using another midstream. I have two only because I want the convenience of having one to use while the other is charging or synching. I don't see owning seven iPads as a plus, no matter how wealthy you are. But hey, that's me. If seven iPads make him happy, more power to him.

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